Judgment of the General Court (Second Chamber) of 19 December 2019

1. Action for annulmentNatural or legal personsMeasures of direct and individual concern to themCommission decision finding State aid compatible with the internal market without opening the formal investigation procedureAction brought by creditors of a bank put into resolutionParty concerned within the meaning of Article 108(2) TFEUCriteriaIndirect effects of the contested decision on the value of bondsInadmissibility

(Arts 108(2) and 263, fourth para., TFEU; Council Regulation No 659/1999, Art. 1(h))

(see paras 56-67)

2. Action for annulmentNatural or legal personsMeasures of direct and individual concern to themWhether directly concernedCriteriaCommission decision finding State aid compatible with the internal market without opening the formal investigation procedureAction brought by creditors of a bank put into resolutionAid consisting of a capital contribution to a bridge bank set up under the resolution procedureLack of individual concernInadmissibility

(Art. 263, fourth para., TFEU)

(see paras 68-71)

Re:

Application pursuant to Article 263 TFEU for annulment of Commission Decision C(2014) 5682 final of 3 August 2014 on State aid SA.39250 (2014/N) — Portugal — Resolution of Banco Espírito Santo, SA.

Operative part

The Court:

1. Dismisses the action as inadmissible;

2. Orders BPC Lux 2 Sàrl and the other applicants whose names are set out in the Annex to bear their own costs and to pay those incurred by the European Commission in the proceedings for interim relief, at first instance and after referral back to the General Court;

3. Orders the Commission to bear the costs incurred by it in the proceedings on the appeal;

4. Orders the Portuguese Republic to bear its own costs.